Sartorius AG (SDMHF.PK), a German laboratory and pharmaceutical equipment provider, announced Friday the acquisition of ViroCyt Inc., an innovator in the field of rapid virus quantification. The transaction values ViroCyt at approx. $16 million.
The US-based start-up is expected to achieve high double-digit growth and to generate more than $3 million sales revenues in 2016 while achieving break even underlying EBITDA by the end of 2018.
ViroCyt's main customers include pharma and biopharma R&D laboratories, vaccine manufacturers as well as academic institutes focused on virology. The company's unique automated platform, which integrates instruments, software and reagents, delivers high quality results significantly faster than commonly used methods for virus counting.
Michael Melingo, member of the Sartorius Group Executive Committee, said, "After acquiring the cell screening specialist IntelliCyt, we are now adding a further very innovative bioanalytical tool to our Lab Products & Services portfolio that will enable our customers to obtain lab results much faster and reduce the time to clinic for virus-based pharmaceuticals."
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